My wife and I changing mortgage lender for our flat in Bourne End with Virgin Money. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the Virgin Money conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Virgin Money. This is solely used to protect Virgin Money if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Virgin Money had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is there a reason why leasehold purchase conveyancing in Bourne End costs more?
Bourne End leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Is there a list of Yorkshire BS panel solicitors in Bourne End on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings open the public online. If you are looking for a Bourne End conveyancer on the Yorkshire BS please make the most of our tool.
is it true that all Bourne End solicitor firms on the Kent Reliance conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be overseen by the SRA. Many lenders do permit licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
Kent Reliance have agreed my home loan in principle, my offer on a property in Bourne End has been accepted, what are the next steps?
Your property agent will need to know who your solicitors are (ensure that the lawyers are on the bank’s approved list). Telephone Kent Reliance or the broker and finish off any relevant paperwork. Kent Reliance will appoint a valuer who will get in touch with the estate agent or seller to book a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average ten days to receive the mortgage offer. Kent Reliance will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Bourne End.
The deeds to our home can not be found. The solicitors who dealt with the conveyancing in Bourne End 10 years ago no longer exist. What are my next steps?
These day there are copies made of almost everything, and your conveyancer should be aware exactly where to find all the relevant paperwork so you may buy or sell your property without any difficulty. If copies are not available, your conveyancer may be able to put in place insurance or indemnities protecting you against future claims on your property.
I am looking for a ground for flat up to £235,500 and found one round the corner in Bourne End I like with a park and railway links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Bourne End for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years will likely be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
My business partner and I are planning to lease a unit on the high street. Can you recommend lawyers offering no-sale-no charges for commercial conveyancing in Bourne End for less than 2k?
We can recommend firms who have specialist knowledge of commercial conveyancing in Bourne End, including the disposal and acquisition of businesses as well as simply property. Whether you are intending to purchase or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right firm. Regarding the costs these will vary based on the structure and terms of the deal. Please provide us with your contact information or call us so that we can provide you with a detailed commercial conveyancing quote.